Under the circumstances described by § 54-10-7, the court may order the value of the security determined by compromise, if the secured creditor and the liquidator agree upon a value. The liquidator may redeem such assets by payment of the agreed value, if authorized by the court.
S.D. Codified Laws § 54-10-8
Value of security, determination by compromise--Redemption of assets by liquidator
Known as the Uniform Act
The act spans §§ 54–54 (14 sections).
Source: SL 1941, ch 162, § 6; SDC Supp 1960, § 37.26A06 (1).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.